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AN EVALUATION OF SOCIO-LEGAL AND ECONOMIC CONSEQUENCES OF BENAMI ACT, 2016
Dr. Partap Singh Chahal

Published in: Journal for Advance Research in Applied Sciences
Volume- 4, Issue-7, pp.300-307, Dec 2017
DPI :-> 16.10089.JARAS.2017.V4I7.300307.2252



Abstract
the Benami Transactions (Prohibition) Amendment Act, 2016 is an amendment of the older Benami Transactions (Prohibition) Act 1988. An effort was made again in the year 2016 to pass The Benami Transactions (Prohibition) Amendment Bill, 2015 which was successfully passed in both the houses and therefore, the Benami Transactions (Prohibition) Amendment Act, 2016 was enforced on 1st November 2016. The act is clearer and has stringent punishments for offenders. It also tries to plug in the loopholes of the previous act. The amendments of Benami Transactions (Prohibition) Act will stabilize the sector and foster transparency, credibility and reliability in long-term. However, due to the nature of the relationship between parties like with blood relatives or family members or some good friend with whom a person shares a fiduciary relationship, landlord and tenant or master and his servant, it is difficult to recognize benami properties and there is limited scope for litigation. The paper studies the socio-legal and economic consequences of Benami Transactions (Prohibition) Amendment Act, 2016 in Indian economy.

Key-Words / Index Term
Benami Transaction, Fiduciary Relationship, Tenant, Benami Property,

How to cite this article
Dr. Partap Singh Chahal , “AN EVALUATION OF SOCIO-LEGAL AND ECONOMIC CONSEQUENCES OF BENAMI ACT, 2016”, Journal for Advance Research in Applied Sciences, 4, Issue-7, pp.300-307, Dec 2017. DPI:16.10089.JARAS.V4.I7.2252